The posted draft regulation concerns asset transfers between pension plans in the context of corporate reorganizations, including the sale of a business. If approved, the draft regulation would allow amendments to sections 80 and 81 of the Pension Benefits Act to be proclaimed.

The draft regulation is meant to facilitate the restructuring of pension plans affected by corporate reorganizations, while protecting benefit security for plan members and pensioners. Once implemented, the legislated amendments should allow more efficient and timely transactions and simplify the regulatory approval process. This in turn should reduce administrative and compliance costs as well as help plan members to consolidate pension benefits in a single plan.